Zacks Investment Research cut shares of Kornit Digital (NASDAQ:KRNT) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.
According to Zacks, “Kornit Digital, Ltd. is engaged in developing, manufacturing and marketing industrial and commercial printing solutions. The company offers a portfolio of direct to garment printers from entry level to mass production; NeoPigment ink solutions; roll to roll printers and pretereatment systems and software for the garment and textile printing industry. Kornit Digital, Ltd. is headquartered in Rosh-Ha`Ayin, Israel. “
KRNT has been the topic of a number of other reports. Barclays set a $19.00 target price on Kornit Digital and gave the stock a buy rating in a research note on Wednesday, January 10th. BidaskClub cut Kornit Digital from a sell rating to a strong sell rating in a research report on Tuesday, January 9th. TheStreet raised Kornit Digital from a c rating to a b- rating in a research report on Thursday, January 11th. Needham & Company LLC dropped their price objective on Kornit Digital from $19.00 to $18.00 and set a buy rating on the stock in a research report on Wednesday. Finally, Citigroup raised Kornit Digital from a neutral rating to a buy rating and set a $19.00 price objective on the stock in a research report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $19.67.
Kornit Digital (NASDAQ:KRNT) last released its earnings results on Tuesday, February 13th. The industrial products company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Kornit Digital had a positive return on equity of 1.68% and a negative net margin of 1.77%. The company had revenue of $29.95 million during the quarter, compared to analysts’ expectations of $30.51 million. analysts anticipate that Kornit Digital will post 0.34 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank boosted its position in shares of Kornit Digital by 8.7% during the second quarter. Swiss National Bank now owns 41,300 shares of the industrial products company’s stock valued at $799,000 after buying an additional 3,300 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in shares of Kornit Digital by 3.2% during the fourth quarter. Disciplined Growth Investors Inc. MN now owns 182,352 shares of the industrial products company’s stock valued at $2,945,000 after buying an additional 5,732 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Kornit Digital during the fourth quarter valued at $103,000. Wells Fargo & Company MN boosted its position in shares of Kornit Digital by 1,540.0% during the second quarter. Wells Fargo & Company MN now owns 8,200 shares of the industrial products company’s stock valued at $159,000 after buying an additional 7,700 shares during the last quarter. Finally, CAPROCK Group Inc. boosted its position in shares of Kornit Digital by 46.9% during the fourth quarter. CAPROCK Group Inc. now owns 24,497 shares of the industrial products company’s stock valued at $385,000 after buying an additional 7,817 shares during the last quarter. 82.02% of the stock is currently owned by institutional investors.
About Kornit Digital
Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.
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